Natixis Advisors L.P. Lowers Holdings in Comstock Resources, Inc. (NYSE:CRK)

Natixis Advisors L.P. reduced its holdings in shares of Comstock Resources, Inc. (NYSE:CRK) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,800 shares of the oil and gas producer’s stock after selling 3,024 shares during the period. Natixis Advisors L.P.’s holdings in Comstock Resources were worth $892,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CRK. New York State Teachers Retirement System raised its stake in shares of Comstock Resources by 25.2% in the third quarter. New York State Teachers Retirement System now owns 56,703 shares of the oil and gas producer’s stock valued at $625,000 after acquiring an additional 11,400 shares in the last quarter. Fifth Third Bancorp raised its position in Comstock Resources by 193.5% in the 3rd quarter. Fifth Third Bancorp now owns 61,123 shares of the oil and gas producer’s stock valued at $674,000 after purchasing an additional 40,296 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Comstock Resources by 693.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 13,730 shares of the oil and gas producer’s stock valued at $151,000 after buying an additional 12,000 shares during the period. Pittenger & Anderson Inc. grew its position in shares of Comstock Resources by 42.9% during the third quarter. Pittenger & Anderson Inc. now owns 10,000 shares of the oil and gas producer’s stock worth $110,000 after buying an additional 3,000 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Comstock Resources by 1.1% during the third quarter. Principal Financial Group Inc. now owns 580,268 shares of the oil and gas producer’s stock worth $6,400,000 after buying an additional 6,319 shares during the period. 36.13% of the stock is currently owned by institutional investors and hedge funds.

Comstock Resources Stock Performance

Shares of CRK stock opened at $10.65 on Friday. The stock’s 50-day moving average is $9.40 and its two-hundred day moving average is $9.24. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.64 and a current ratio of 0.64. Comstock Resources, Inc. has a 1 year low of $7.07 and a 1 year high of $13.39. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 48.41 and a beta of 0.70.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. Comstock Resources had a return on equity of 1.25% and a net margin of 4.27%. The firm had revenue of $335.77 million for the quarter, compared to the consensus estimate of $343.97 million. During the same quarter last year, the business posted $0.33 EPS. The firm’s quarterly revenue was down 31.4% compared to the same quarter last year. Analysts predict that Comstock Resources, Inc. will post -0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Truist Financial decreased their price target on shares of Comstock Resources from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Tuesday, February 13th. The Goldman Sachs Group boosted their target price on shares of Comstock Resources from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Tuesday, April 2nd. Stifel Nicolaus cut their price target on Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Piper Sandler decreased their price target on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, March 7th. Finally, StockNews.com upgraded Comstock Resources to a “sell” rating in a report on Monday, April 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Comstock Resources presently has an average rating of “Hold” and a consensus price target of $10.08.

Insider Transactions at Comstock Resources

In other Comstock Resources news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of Comstock Resources stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average price of $8.04 per share, for a total transaction of $100,500,000.00. Following the transaction, the insider now directly owns 194,821,429 shares in the company, valued at $1,566,364,289.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

Comstock Resources Profile

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.